Video | Business Headlines | Internet | Science | Scientific Ethics | Technology | Search

 

New Zealand set to blow its carbon budget by 27%

New Zealand set to blow its carbon budget by 27%


26 May 2017

The Government’s Greenhouse Gas Inventory, released today, shows New Zealand is set to release 647.5 million tonnes of carbon emissions between 2013 and 2020 – 137 million tonnes more than we are allowed under the Kyoto Protocol.

“Just a day after the Government released its Budget, we get confirmation that New Zealand is blowing its carbon budget,” says Forest & Bird’s Climate Advocate Adelia Hallett.

“Balancing the books on environmental limits like climate is even more important than balancing finances.”

The inventory also reveals that the agricultural sector continues to dominate New Zealand’s emissions profile, and is responsible for nearly 48% of emissions. It shows emissions from the sector have increased 16% since 1990 – largely due to dairy expansion and the clearing of forests.

“The latest data reinforces that we need to set robust carbon budgets that are independently overseen by a Climate Commission, a realistic carbon price, and ensure that agriculture is brought into the Emissions Trading Scheme.”

Ms Hallett says that even at the current New Zealand carbon price of $16.45 the country’s emissions are, in effect, a $2.3 billion liability.

“These are our debts, and New Zealanders need to know about them.”

Overall, 2015 emissions were down 0.1 per cent on 2014, due to lowered agricultural production caused by drought conditions and a drop in dairy prices.
“The only reason emissions have dropped slightly is because of drought, not because of anything we’ve done.”

“Relying on extreme weather events caused by climate change to bring down our emissions is ludicrous,” says Ms Hallett.

“We know that Government has given $1.7 billion worth of carbon credits to industry since the ETS started, and is throwing hundreds of millions of dollars towards irrigation schemes which will increase agricultural emissions.”

“These aren’t the actions of a country serious about reducing emissions and transitioning towards a low-carbon economy.”

“This is corporate welfare that taxpayers and the environment are paying for.”

“Our wildlife is already being impacted by the warming climate - yellow-eyed penguins are declining, mast years that produce additional food for introduced predators are becoming more frequent, and new pests and diseases such as myrtle rust are threatening our native forests."

“The last thing our already struggling native species need is runaway climate change, but that is where we are heading.”


Notes for journalists:

· New Zealand’s carbon budget – the amount of greenhouse gas emissions NZ can emit (between 2013 and 2020) is 509.9 million tonnes. Although New Zealand has not signed up to the second commitment period of the Kyoto Protocol and has set its pledge under the United Nations Framework Convention on Climate Change, it has said it will abide by Kyoto rules.

· The Government has given $1.7 billion worth of credits to industry since the ETS started. (Source: Answers to Parliamentary Written Questions from the Office of the Minister for Climate Change Issues).

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 



Consumer NZ: Buy-now, Pay-later Raking In $10m+ In Late Fees Annually

A Consumer NZ survey has found buy-now, pay-later services are costing shoppers more than $10 million a year in late fees. Close to four out of 10 Kiwi consumers use buy-now, pay-later services, such as Afterpay, Laybuy and Zip... More>>

Westpac: Catherine Mcgrath Appointed New Zealand CEO

Westpac Group CEO Peter King and the Westpac New Zealand Board today announced the appointment of Catherine McGrath as Chief Executive Officer, Westpac New Zealand... More>>


Amazon: AWS To Open Data Centres In New Zealand

Today, Amazon Web Services (AWS), announced plans to open an infrastructure region in Aotearoa New Zealand in 2024. The new AWS Asia Pacific (Auckland) Region will consist of three Availability Zones (AZs) and join the existing 81 Availability Zones across 25 geographic AWS Regions at launch... More>>

ALSO:



Statistics: Surge In Imports Results In Record Monthly Trade Deficit
Imports increased $1.8 billion in August 2021 compared with August 2020, resulting in a record monthly trade deficit of $2.1 billion, Stats NZ said today. Exports were little changed, down $42 million. "This is a larger deficit than normal because of higher values for imports.. More>>

Fonterra: Completes reset, announces annual results and long-term growth plan out to 2030

Fonterra Co-operative Group Limited today announced a strong set of results for the 2021 financial year, reflected in a final Farmgate Milk Price of $7.54, normalised earnings per share of 34 cents and a final dividend of 15 cents... More>>


Statistics: GDP rises in the June 2021 quarter

Gross domestic product (GDP) rose by 2.8 percent in the June 2021 quarter, following a 1.4 percent increase in the March 2021 quarter, Stats NZ said today. June 2021 quarter GDP was 4.3 percent higher when compared with the December 2019 quarter... More>>